While the U.S. economy has added 11.2 million private-sector jobs, wages are still going nowhere, explains the author.
Part of a Series
It is safe to say that the U.S. labor market is now out of jobless-recovery territory and into the territory of wageless recovery.
Employers added 252,000 jobs in December 2014, and the unemployment rate fell to 5.6 percent, according to new data from the Bureau of Labor Statistics, or BLS. Since the start of the labor-market expansion in February 2010, private employers have added 11.2 million new jobs.
For more on this idea, please see:
- Why Wages Are Not Returning as Job Growth Increases by Adam Hersh
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